Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    81 Miller Rd East Greenbush, NY 12061

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,358 /Mo ($6 SF/Yr)

    Recently renovated office space featuring multiple offices and conference rooms.

    Property size:
    4,200 SF
    Lot size:
    13.53 Acres

    Property Features for 81 Miller Rd

    General Information

    Size
    4,200 SF
    Lot size
    13.53 Acres

    We can help!

    Listing Contact
    James Jay Verro
    Source: Moodyscre

    Listing Agent: James Jay Verro

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Office Space Available

    This recently renovated office space offers a functional layout, featuring twelve offices, nine of which have windows. The space includes two conference rooms and a large bullpen area suitable for collaborative work. Additionally, there is a waiting room, reception area, and breakroom. The property is available for lease.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    East Greenbush
    County
    Rensselaer
    State
    New York
    Longitude
    -73.687743
    Latitude
    42.579474

    Nearby Similar for Lease

    • $6 SF/Yr
      56,632 SF

      Prime East Greenbush Warehouse Space

      56,632 SF Industrial Building for Lease
      579 Columbia Tpke, East Greenbush, NY 12061
      View Details
    • $19 SF/Yr
      1,572 SF

      Class A Office Building

      Class A office building with spaces for rent near Albany.
      73 Troy Rd, East Greenbush, NY 12061
      View Details
    • $1.00 SF/Yr
      18,832 SF

      East Greenbush Retail Space Available

      New construction retail space in East Greenbush, up to 2,300 SF.
      580 Columbia Tpke, East Greenbush, NY 12061
      View Details
    • $500 /Mo
      1,157 SF

      Move-in Ready Medical Office Space

      1,262 RSF medical office space with two in-suite bathrooms.
      77 Miller Rd, East Greenbush, NY 12061
      View Details
    • $1,500 /Mo
      13,842 SF

      Route 4 Office Space Available

      900 SF office space on Route 4 near I-90.
      77 Troy Rd, East Greenbush, NY 12061
      View Details
    • $5 SF/Yr
      56,632 SF

      Warehouse Space Near I-90 Exit

      Well-maintained warehouse with office space, loading docks, and fire suppression.
      579 Columbia Tpke, East Greenbush, NY 12061
      View Details
    • $26 SF/Yr
      1,592 SF

      Freestanding Office Building East Greenbush

      Freestanding office building with high visibility and strong demographics.
      1001 Glaz St, East Greenbush, NY 12061
      View Details
    • $13 SF/Yr
      37,001 SF

      Class A Office Space Available

      Class A office building with customizable spaces in East Greenbush.
      33 Tech Valley Dr, East Greenbush, NY 12061
      View Details
    • $13 SF/Yr
      37,001 SF

      Class A Office Space Available

      Class A office building in East Greenbush Technology Park.
      33 Tech Valley Dr, East Greenbush, NY 12061
      View Details
    • $13 SF/Yr
      37,001 SF

      Class A Office Space Available

      Class A office building in East Greenbush Technology Park.
      33 Tech Valley Dr, East Greenbush, NY 12061
      View Details
    • $13 SF/Yr
      92,744 SF

      East Greenbush Office Space Available

      Office space with multiple offices, conference rooms, and kitchenette.
      15 Tech Valley Dr, East Greenbush, NY 12061
      View Details
    • $13 SF/Yr
      37,001 SF

      Class A Office Space Available

      Class A office building with customizable spaces for rent.
      33 Tech Valley Dr, East Greenbush, NY 12061
      View Details

    FAQs

    What type of property is this?
    Office space - Recently renovated office space featuring multiple offices and conference rooms.
    Where is this office space located?
    The property is located at 81 Miller Rd East Greenbush, NY.
    What is the lease rate?
    The lease rate is $6 SF/Yr.
    What are key features of this property?
    This property features: - Recently renovated entire space; - Twelve offices, nine with windows; - Two conference rooms
    (518) 465-1400
    Request Owner's contact information
    81 Miller Rd East Greenbush, NY 12061
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    81 Miller Rd
    East Greenbush, NY 12061
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    81 Miller Rd East Greenbush, NY 12061
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    James Jay Verro
    (518) 465-1400
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.